Many myths and questions regarding the waiting period are usually in the minds of people. Also, people do not have the right information about claim rejection and other problems. Therefore, it is important to understand your questions regarding the waiting period and its entire process.
There are many myths and questions about the waiting period that are usually in the minds of people . Along with this , people do not have the right information about claim rejection and other problems . Therefore , it is important to understand your questions regarding the waiting period and its entire process .
As the name suggests , the waiting period in health insurance is the period during which the policy holder cannot file a claim , in simple words, during the waiting period, the policy holder cannot pay for any kind of medical bill . Cannot get claim from insurance company .
The waiting period starts with the policy itself and can range from 12 to 48 months . The point to be noted here is that no waiting period will be applicable in case of hospitalization due to an accident . In such a situation, you can directly take the help of your health insurance policy .
There are two types of waiting periods , depending on which the policy holder has to wait to file his claim . Let us know what are the types of waiting period :
* Initial waiting period :
Health insurance plans have an initial waiting period of 30 days from the inception of the policy , also known as the cooling period . Till the end of this period, the policy holder cannot make any claim . However , in case of an accident, the benefit of the policy can be found . It is important to note here that in all health insurance policies , you get coverage from day one in case of hospitalization due to an accident .
* Waiting period for pre-existing diseases (PED) :
According to IRDAI , pre-existing disease can be any disease , health condition or injury , which was identified 48 months before the inception of the first medical insurance policy . Simply put , pre-existing diseases are health problems that a person had before purchasing the first medical insurance policy . These include diseases like diabetes , high blood pressure , thyroid .
Hundreds of insurance claims get rejected due to lack of information about waiting period for pre-existing diseases . For pre-existing diseases in the health insurance policy, coverage is not given from the inception of the policy . Coverage for such diseases is given only after a certain period is over , which depends on your health insurance policy .
* Waiting period for certain diseases :
Every health insurance policy has a waiting period for certain diseases . These diseases may differ from one policyholder to another policyholder . Policyholders can file their claims for these diseases only after the pre-fixed waiting period is over . This waiting period can usually be from 12 to 48 months . Before buying a health insurance policy , it is important that you read the list of diseases carefully and also see what waiting period is applicable for them .
* Waiting period related to maternity or pregnancy :
Generally, health insurance has a waiting period for claims for hospital expenses related to pregnancy . This waiting period can range from 12 to 24 months , however , it can be more or less depending on your policy .
Therefore , it is advised that people who want to get married or are planning for a child should buy a health insurance policy with maternity coverage , so that they can easily overcome this waiting period .
* The purpose behind the waiting period :
The purpose of waiting period associated with health insurance policies is to reduce the risk of health insurance companies , as policyholders start filing claims immediately after paying the insurance premium . Therefore , the waiting period allows all policyholders to make claims in the same period with the same rules .
* Keep these things in mind :
Waiting period is such an important rule that a person should know about before buying health insurance . The policyholder has to complete the waiting period given in the policy before filing the claim . However , the waiting period can be reduced by paying some additional premium .
Star health and allied insurance co. Ltd. Presenting Star Comprehensive Insurance Policy, in which you get the benefit of Buy back PED , in which you can reduce the waiting period of pre-existing diseases from 36 months to 12 months . You add from today -You can take advantage of this excellent policy as an add-0n cover , that too with very affordable premiums .
